Pre-Trading Thoughts

In line with our expectation, the Central Bank of Egypt left interest rates unchanged on Thursday. Net foreign reserves reached a new high of USD46.6 billion at the end of August 2024, up from July’s record figure of USD46.5 billion. The three-day Forum on China-Africa Cooperation, saw the government sign contracts and MoUs with Chinese companies amounting to over USD1.1 billion. The Egyptian General Petroleum Corporation (EGPC) issued a tender for 17 shipments of liquified natural gas for it...